Indicator Explanation Tutorial

Alpha > 0.5: Traders are paying a premium to go long, mildly optimistic; > 1: Clearly bullish sentiment; > 2: Overly optimistic.
Alpha < -0.5: Traders are cautious or hedging, mildly pessimistic; < -1: Clearly bearish sentiment; < -2: Overly pessimistic.

Market Sentiment analyzes the difference between spot and futures prices to gauge trader outlook. A positive value (green bar) indicates bullish sentiment, with traders willing to buy at higher prices, and a negative value (red bar) indicates bearish sentiment, with traders waiting for lower prices.

The Overview page ranks tokens by sentiment, while the Sector page shows sentiment across different crypto sectors.